All Forum Posts by: Kar Sun

My tenants would pay for the repairs of all appliances, unless it needs to be replaced or defective. I provide these for their convenience and my contract states so.

I provide all appliances for the convenience of the tenants so they are responsible to repair them. However, the repairs need to be done to standards to ensure safety so the tenant must notify me if something is broke and use a repair person provided by me or provide a proof of professional repairs. The only time when I repair an appliance  is if it has the defective part. Stove top not turning on does not make the property uninhabitable and you do not have to fix it right away. They can go and buy portable hot plates. For the annoying tenants that I won't renew I would not compensate them with anything.But again, you should have specified who is responsible for the repairs. In either case a tenant would end up paying because you will eventually have to fix it. If they do not pay I will take it out of their security deposit.

I never let anyone who contacts me see my places right away. 

They have to respond to a pre-screening questionnaire that I have to evaluate. 

They have to show that they are interested to see the place. 

Those who do not respond withing 24-48hrs are completely out. Only a small number of people gt to see my properties. 

I am not interested to stuff any warm body there.

Thank you.

I just cannot afford to have a huge headache with bad tenants.

Everyone must answer the questionnaire.

It is also a great filter to judge their character.

I basically study their responses, how organized their replies are and how quickly they sent their responses back.

It speaks volumes.

Hello

I will be buying a property from a relative with an LTV of .35.

This will be a primary residence.

Basically I will be financing the outstanding loan the relative currently has.

Do I still need a down payment?

Any advice?

Thanks

Thank you.

I had already made a decision.

She is not the right fit for the place.

People who have shown to be irresponsible, made bad decisions and continue to make them wont' take a good care of my property. 

I actually did not mention all she said.

In  my lease:

1. I cannot accommodate 3 adults because my place has only 2 assigned parking spots

2. Each tenant has to qualify separately as they are severally and jointly responsible; I do not manage roommates 

3. Will have to do background, income, renting history verification; if it is a single mom trying to rent a 3 bedroom I will emphasize that no subletting and no hosting is allowed; I have strict guest rules; a tenant has to be the right fit for the property in addition to FAIR HOUSING. It is strange if a single person is looking at a large house or if a 70 yrs old wants to rent 3 story place.  Fair hosing does not pay my bills.

It is that simple.

money is important but so is mental health.

if something would require a lot of effort and a headache I would get rid of it.

life is too short.

let is be someone else's headache.

I am at the pre-screenining process.

Every potential tenant has to answer a set of questions before I even show my property as I do not want to waste my time on tire kickers.

Potential tenant:

has a toddler

has one college age teen(over 18) who visits her

has another adult child who visits her

inherited some money 

currently lives in the area with her roommate who is also her landlord

My property is:

well taken care of A class property priced just below the market in a great area but I do have a high security deposit requirement

I am not in any particular hurry to rent to just anyone because I do not need a headache.

I do have a pretty good idea that she would not quality based on her income.

I do have very strict guest rules in a contract.

If they are not guests then they have to be on the application and qualify individually.

It already looks like it is a bit too complex.

Your thoughts on this?

Thanks

no.